BOJ Chief Ueda Signals Chance of July Rate Hike

BANK OF JAPAN / BOJ - TOKYO. Bank of Japan Governor Kazuo Ueda said the central bank could raise interest rates next month depending on economic data available at the time, underscoring its resolve to steadily push up borrowing costs from current near-zero levels.

While rising import costs from a weak yen may weigh on household spending, increasing wages will underpin consumption and keep the economy on track for a moderate recovery, Ueda told parliament on Tuesday.